CV Advisors LLC Buys Shares of 2,610 Tesla, Inc. (NASDAQ:TSLA)

CV Advisors LLC bought a new position in Tesla, Inc. (NASDAQ:TSLA) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 2,610 shares of the electric vehicle producer’s stock, valued at approximately $1,054,000. Tesla accounts for approximately 0.4% of CV Advisors LLC’s holdings, making the stock its 17th biggest position.

Other large investors have also made changes to their positions in the company. Envestnet Portfolio Solutions Inc. raised its position in Tesla by 12.8% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 104,055 shares of the electric vehicle producer’s stock valued at $42,022,000 after purchasing an additional 11,821 shares during the period. Ascent Capital Management LLC acquired a new position in Tesla in the fourth quarter worth about $849,000. CBIZ Investment Advisory Services LLC grew its stake in Tesla by 19.7% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 414 shares of the electric vehicle producer’s stock worth $167,000 after purchasing an additional 68 shares in the last quarter. one8zero8 LLC acquired a new position in Tesla in the fourth quarter worth about $1,348,000. Finally, Choate Investment Advisors boosted its stake in Tesla by 17.7% in the fourth quarter. Choate Investment Advisors now owns 12,363 shares of the electric vehicle producer’s stock valued at $4,993,000 after acquiring an additional 1,862 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Tesla

In related news, CFO Vaibhav Taneja sold 2,672 shares of the firm’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $268.73, for a total value of $718,046.56. Following the completion of the sale, the chief financial officer now directly owns 26,950 shares in the company, valued at $7,242,273.50. This trade represents a 9.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James R. Murdoch sold 54,776 shares of Tesla stock in a transaction on Monday, March 10th. The stock was sold at an average price of $240.79, for a total value of $13,189,513.04. Following the sale, the director now owns 477,011 shares of the company’s stock, valued at approximately $114,859,478.69. This trade represents a 10.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 477,228 shares of company stock valued at $166,849,043 in the last three months. 20.70% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on TSLA shares. Evercore ISI lifted their target price on Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a research note on Friday, January 3rd. Piper Sandler boosted their target price on Tesla from $315.00 to $500.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. Benchmark assumed coverage on Tesla in a report on Wednesday, February 12th. They issued a “buy” rating and a $475.00 price target on the stock. Wells Fargo & Company lowered their price objective on shares of Tesla from $135.00 to $130.00 and set an “underweight” rating on the stock in a research report on Friday. Finally, Stifel Nicolaus lowered their price objective on shares of Tesla from $492.00 to $474.00 and set a “buy” rating on the stock in a research report on Monday, February 10th. Nine analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Tesla has a consensus rating of “Hold” and an average price target of $325.65.

Tesla Stock Up 3.9 %

NASDAQ:TSLA opened at $249.98 on Friday. The company has a market capitalization of $804.06 billion, a PE ratio of 122.54, a P/E/G ratio of 5.86 and a beta of 2.50. The firm’s 50-day moving average price is $351.31 and its 200-day moving average price is $319.51. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. On average, equities analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Tesla Profile

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.